Williams-Sonoma (WSM) Stock Slides on Weak Guidance

The company lowered its forecast for its third quarter

Williams-Sonoma (WSM) stock is down following the company’s weak guidance for its third quarter.

The retail company expects third-quarter earnings of 58 to 63 cents per share and revenue of $1.1 billion to $1.13 billion. Williams-Sonoma’s forecast is behind analysts’ expectations of $1.13 billion in revenue and earnings of 66 cents per share for the quarter.

The company’s second-quarter earnings were in line with the consensus estimate. Williams-Sonoma reported earnings of 53 cents per share and revenue of $1.04 billion, compared with the consensus estimate of 53 cents a share on earnings and $1.05 billion on revenue.